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Objective: Maintain Competitive Tax Rate

"One of the most visible services citizens get for their tax dollars is garbage and recycling collection. It makes a real difference in Charlotte's environment and improves the overall look of our neighborhoods."

- Property tax revenue as a percentage of total City revenues decreased from 20.6% in the FY2003 budget to 18.4% in the FY2004 budget. The City is limiting reliance on property tax and maintaining a diverse portfolio of revenues to minimize the impact of dramatic decreases in any one revenue source

- Annexation plans for seven of eight areas were approved, including a large portion of University Research Park. These annexations increased real property valuation by 3.2%, land area by 3.5% and population by 1.7%. The combined valuation is equal to $1.9 billion

- Health care administrative fees were reduced by 18.7%, or $663,500, through a restructure of thee City employee medical coverage plan. The Human Resources Department also achieved $3.2 million in cost avoidance savings through a change in the prescription drug program

- 43 construction projects valued at more than $32 million were completed, on average, at 3% below budget

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Competition efforts undertaken by the Street Maintenance Division during FY2002-2003 resulted in savings of $899,560

Challenges:- The weak economy caused a decline in sales and property tax revenues. However, because the City planned for lower revenues, Charlotte has not had to raise taxes or cut services as have many other cities and counties

- Health care administrative fees were reduced by 18.7%, or $663,500, through a restructure of thee City employee medical coverage plan. The Human Resources Department also achieved $3.2 million in cost avoidance savings through a change in the prescription drug program

- 43 construction projects valued at more than $32 million were completed, on average, at 3% below budget

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Competition efforts undertaken by the Street Maintenance Division during FY2002-2003 resulted in savings of $899,560